The Nasdaq Composite dropped more than 300 points on Friday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out Benzinga's insider transactions platform.
Advanced Micro Devices
- The Trade: Advanced Micro Devices, Inc. (NASDAQ:AMD) EVP, Computing & Graphics Rick Bergman sold a total of 3,000 shares at an average price of $92.39. The insider received around $277.17 thousand from selling those shares.
- What’s Happening: AMD recently issued Q3 sales guidance with a midpoint below estimates and said it lowered PC business outlook.
- What AMD Does: Advanced Micro Devices designs microprocessors for the computer and consumer electronics industries. The majority of the firm's sales are in the personal computer and data center markets via CPUs and GPUs.
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Fox Factory Holding
- The Trade: Fox Factory Holding Corp. (NASDAQ:FOXF) Director Elizabeth A Fetter sold a total of 2,600 shares at an average price of $99.32. The insider received around $258.23 thousand as a result of the transaction.
- What’s Happening: Fox Factory recently reported better-than-expected Q2 EPS and sales results and issued Q3 and FY22 sales guidance above estimates.
- What Fox Factory Holding Does: Fox Factory Holding Corp is a designer, manufacturer, and marketer of performance-defining products and systems used primarily on bikes, Side-by-Sides, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, ATVs, snowmobiles, specialty vehicles and applications, motorcycles, and commercial trucks.
Have a look at our premarket coverage here .
Intercontinental Exchange
- The Trade: Intercontinental Exchange, Inc. (NYSE:ICE) SVP, HR & Administration Douglas Foley sold a total of 1,600 shares at an average price of $107.73. The insider received around $172.37 thousand from selling those shares.
- What’s Happening: Intercontinental Exchange recently reported better-than-expected Q2 EPS and sales results and updated FY22 sales guidance.
- What Intercontinental Exchange Does: Intercontinental Exchange is a vertically integrated operator of financial exchanges and provides ancillary data products. Though the company is probably best known for its ownership of the New York Stock Exchange, which it acquired in 2013, ICE operates a large derivatives exchange, too.
